Hamptons Real Estate: What’s Trending for 2014?

What does your Hamptons real estate future hold?

December 29, 2013 by Kelly Ann Krieger

Home values across the country enjoyed a strong year in 2013, and the year ahead, although not predicted to show the same surge in appreciation, is nonetheless expected to bring growth and opportunity on both sides of the table—along with a few surprises, of course. Here on the East End, however, factors that influence national real estate don’t necessarily have the same impact as in other parts of the country, so we turned to a lineup of experts in the Hamptons and on the North Fork to share their insights into what 2014 will bring for buyers, sellers and investors.

“I expect healthy levels of appreciation—some greater than others—but all should experience forward movement in price. The number of sales will depend on many factors, such as the stock market, Wall Street bonuses, international economies and consumer confidence. Interest rates, while vital to national home sales, are not a deal killer in the Hamptons.”
—Judi Desidario, Town & Country

“Pricing is always set by ‘new construction.’ The increase in land prices this year will result in higher pricing of new homes in 2014. To be successful in your investment, you must think in the long-term. The market is continuing in an upward trend, specifically in Manhattan, Brooklyn and the Hamptons. Real estate is a smart venture and the best way to safely invest in your future.”
—Alan Schnurman, Saunders & Associates

“The market is doing great and waterfront is in high demand, especially Dune Road properties. I can only anticipate that we’re going to have an awesome spring with this momentum.”
—Lynn November, Douglas Elliman

“Styled and Sold has seen more new construction in the last nine months than we have seen in the last few years, and we predict this trend will continue. Sales are hot and the lines have blurred on the typical ‘selling season,’ meaning the majority of rentals and sales are not confined to spring any longer. Presentation (staging, photography) will continue to be of utmost importance as more and more people first view their new homes online.”
—Allegra Dioguardi, Styled and Sold

“Sag Harbor is hot. By 2014, I predict it will be sizzling. Inventory of well-priced Sag Harbor homes is low, and homes that have been on the market for some time because of price are gone. The market is rising. I’ve recently had two bidding wars—one was at full asking price and another went above the asking.”
—John Christopher, Brown Harris Stevens

“Real estate is on the rise with more sales, rentals and record prices expected for our breath-taking community. Yet, regulatory enforcement isn’t far behind, so sellers, buyers and landlords must be keen on watching code changes before making deals.”
—Andrew Lieb, Lieb at Law, P.C.

“We have seen a very nice increase in business and feel confident it will continue going in the right direction. Pricing and inventory levels are down and the banks are loosening restrictions on borrowing—all good indicators. We’re excited to be opening another location in Quogue this December, and we plan to expand again in 2015.”
—Beau Hulse, Beau Hulse Realty

“Real estate trends are continuing to head in a very good direction. People are looking to build homes that are more personal—not the same designs we see a lot of. I’ve been looking at properties with clients and guiding them through the steps necessary to build their dream
home.”
—Jeffrey Collé, Estates by Jeffrey Collé

“The fourth quarter has started off very busy and will easily carry over to the first quarter of 2014. The ‘under 2M market’ has easily increased dramatically, while the ‘over 6M–20M’ has equally increased. We’re being fueled by Wall Street and European investors. The south-of-the-highway inventory is depleting and vacant land is becoming hard to come by.”
—Noel Love, Saunders & Associates

“Like the U.S. economy, I think our real estate market will continue to improve, but slowly. Banks appear to be more user-friendly, and this may accelerate activity in the sluggish 2 to 4 million-dollar range. At the high end, I think we’ll see more record-breaking sales.”
—Andrew Hart, Sotheby’s International

“The smartest move our clients have made in 2013 is buying a home in Montauk. The market has been very strong. With continued proper planning there will be a lot of positive changes for 2014.”
—Nancy Keeshan, Keeshan Real Estate

“A year ago we had a lot of inventory, and everything has sold since then. Although there are fewer properties, transactions have been continuous. The market is moving in a healthy fashion. I think we will have a busy spring, and those clients looking to buy will have even more
opportunities.”
—Rylan Jacka, Sotheby’s International

“There’s a push to make homes green and energy efficient. People are also trending toward transitional homes—homes that pay homage to historical architecture but are a blend of modern and tranditional designs.”
—John Laffey, John Laffey Architects